Need business and employment advice

Mkcoy

Hello what are the procedures one needs to take when setting up a business in making money online somehow? Is it best to go self employed or be a sole trader instead as I don't need a business address. I earn money online through mobile phone affiliate sites and am always adding new sites in different niches to my network. I've earned and continue to earn money from them. And I've been flipping domains and earning that way as well. I've been on the phone to HMRC about it. Basically I want to make a full time living from earning money online. And I want to set up a business around doing it. But not sure if I need to register self employed or as a sole trader instead because obviously you have to declare your income. Learning the differences but also how could I do either from just earning money as an affiliate online?

Any kind folk have experience in this field? I don't want to incur any penalties. I just recently earned a huge lump sum from the sell of some websites and want to declare this and use it to earn more with but also my income earned online is low now and I'm trying to build it back up again with more sites in more niches. And will hopefully sell them and start again. So that's my business. It's legit and useful and I enjoy doing it as a hobby as well but want to do things right. Thanks.

dunstonh

But not sure if I need to register self employed or as a sole trader instead

Its the same thing.

You are probably better off posting in the tax forum rather than the savings and investments section. If a board guide spots this, they may move it for you.

You may also require a data protection licence as well